Unemployment health insurance protects you against unexpected medical expenses while you are left without employer-sponsored health insurance. It’s a wise investment considering that just 48% of people have savings that would last three months for general expenses.
If you’re
unemployed you may be able to get an affordable health insurance plan through
the Marketplace, with savings based on your income and household size.
Your
household size and income, not your employment status, determine what health
coverage you’re eligible for and how much help you’ll get paying for coverage.
How do you
get Health Insurance if you lose your job?
There are
many ways to get health insurance if you lose your job. The first is COBRA,
which allows you to keep your same insurance plan but can be expensive.
Becoming unemployed also qualifies you for a special enrollment period, which
means you can purchase any new insurance policy for up to 60 days after you
lose your job. In some states, short-term health coverage is an affordable
option that can keep you insured for up to a year while you look for new work.
What is the
cheapest Health Insurance?
Short-term
and catastrophic coverage plans are usually the cheapest health insurance
options for anyone who has recently lost their job. However, there are
downsides to both. Short-term coverage only lasts for up to one year and is
banned or restricted in some states. You’ll need to be under 30 years old or
meet low-income requirements to qualify for catastrophic coverage, and even if
you do, those low premiums come at the expense of extremely high deductibles.
To find the best health insurance for unemployment, we looked at policies from many insurance companies across the country. After thoroughly evaluating coverage options, pricing, flexibility, and benefits, we’ve identified the six best providers to stay insured while you look for your next job.
6 available
Health Insurance for unemployed of 2022:
1- Sidecar
Health
- Sidecar
Health’s low-cost, no-commitment health insurance is flexible and affordable,
making it the best overall for unemployed individuals.
- Available
only in Alabama, Arkansas, Arizona, Florida, Georgia, Indiana, Kentucky,
Maryland, Mississippi, North Carolina, Ohio, Oklahoma, South Carolina,
Tennessee, and Texas.
- Sidecar
Health is bringing innovation to health insurance with a totally reinvented
approach to getting coverage. Instead of showing an insurance card at your
doctor’s office, Sidecar Health sends you a payment card that is used to pay
for your visit in cash. Since you’re effectively paying out of pocket using the
plan benefits, you can visit any doctor without being limited to a provider
network.
- Low monthly
premiums.
- Enroll and
cancel at any time.
2- United Healthcare
- United
Healthcare is our top choice for the unemployment health insurance category
thanks to their expansive network, an impressive range of added benefits, and
flexible TriTerm policy allowing up to three years of coverage.
- Available
policies extend to individual health insurance, group options, dental, and
vision. They also offer Medigap, Medicaid, Medicare Advantage, and prescription
drug plans.
- United
Healthcare is a giant among health insurance providers, with a network covering
more than 1.3 million doctors and 6,000 hospitals in the United States. With an
A rating for their financial stability from AM Best, United also boasts an
unparalleled range of benefits and a massive range of plans.
- Excellent
reputation.
- Online
quotation and purchasing system.
- Large
provider network.
- Smartphone
app that integrates with medical records.
- Options
without special enrollment periods.
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3- All Cigna
- All Cigna
individual health insurance plans include free access to two of the largest
virtual care networks in the United States, making Cigna our choice as best for
telehealth.
- Access to
telehealth services can be a lifesaver for anyone dealing with unemployment.
Not only does virtual care save you the time and cost of getting to a doctor’s
office, but you can also even get remote treatment for some minor ailments
without having to pay for an in-person visit. Cigna includes $0 telehealth
visits with all of its individual plans through partnerships with MDLive and
Amwell, two of the largest telemedicine providers in the United States.
- All
individual plans include $0 virtual care
- Partners
with two major telehealth networks
- $25 monthly
copay limit on insulin
- Offers 24/7
customer service
- Dental
coverage starts at $19 per month
4- BlueCross
BlueShield
- BlueCross
BlueShield’s catastrophic policies are the best catastrophic coverage in our
review because they're the most economical option for unemployed individuals
who can’t afford standard health insurance.
- Plans
available in all 50 states
- Offers a
dedicated plan for adults under 30
5- Oscar
- Oscar
offers the best value for family health insurance that won’t eat up your
savings fund while you’re unemployed.
- When you
become unemployed and lose company-sponsored health insurance, your dependents
will also be dropped from coverage. For large families, the cost of maintaining
insurance during periods of unemployment can be astronomical. Thankfully, Oscar
offers a few options to help reduce costs. The insurer’s plans are eligible for
tax credits that can significantly reduce your monthly premiums if your income
is less than four times the federal poverty level.
- Cap on
family deductibles
- Eligible
for tax credits
- Fully
functional smartphone app
- Free
concierge and virtual visits
- Pays up to
$100 per year for step tracking
Read more: 2 Easy ways to tell if your weight is healthy without scale
6- Ambetter
- Most
Ambetter plans can be supplemented with dental insurance starting at just $12
per month, a better deal than any other insurer, and our choice as best with
dental.
- Unemployed
individuals often find themselves having to purchase separate dental insurance
or forego it entirely. With Ambetter, you can add dental and vision coverage to
most policies for around $12 per month. Coverage can be purchased on the
marketplace and is surprisingly affordable; in our test markets, Ambetter was
consistently in the top three cheapest insurers.
- Dental
coverage available with most plans for as little as $12
- Offers a
healthy living rewards program
- Affordable
premiums
- Operates a
24/7 nurse advice line
What do you
do If you don’t Have Health Insurance?
If you find
yourself without health insurance and need medical attention, you should be
prepared to pay full out-of-pocket costs for any treatment you receive. In case
of an emergency, U.S. law prohibits hospitals from refusing treatment due to
your financial situation. However, if you are truly unable to afford coverage,
you should see if you qualify for insurance through Medicaid. Those who don’t
meet Medicaid requirements should at least consider purchasing a low-cost
catastrophic plan to protect you financially in case of serious injury or
illness.
